Approving a Tax Refund to be Allocated between Customers and Shareholders
NY-ADR
3/12/14 N.Y. St. Reg. PSC-44-13-00006-A
NEW YORK STATE REGISTER
VOLUME XXXVI, ISSUE 10
March 12, 2014
RULE MAKING ACTIVITIES
PUBLIC SERVICE COMMISSION
NOTICE OF ADOPTION
I.D No. PSC-44-13-00006-A
Filing Date. Feb. 21, 2014
Effective Date. Feb. 21, 2014
Approving a Tax Refund to be Allocated between Customers and Shareholders
PURSUANT TO THE PROVISIONS OF THE State Administrative Procedure Act, NOTICE is hereby given of the following action:
Action taken:
On 2/20/14, the PSC adopted an order allowing Consolidated Edison Company of New York, Inc.'s (Con Edison) to allocate between customers and shareholders a $140 million property tax refund.
Statutory authority:
Public Service Law, section 113(2)
Subject:
Approving a tax refund to be allocated between customers and shareholders.
Purpose:
To approve a tax refund to be allocated between customers and shareholders.
Substance of final rule:
The Commission, on February 20, 2014, adopted an order to apportion a $140 million property tax refund with 14% being allocated to Consolidated Edison Company of New York, Inc. (Con Edison) as an incentive to achieve property tax reductions and 86% being allocated to benefit Con Edison's electric and steam ratepayers, subject to the terms and conditions set forth in the order.
Final rule as compared with last published rule:
No changes.
Text of rule may be obtained from:
Deborah Swatling, Public Service Commission, Three Empire State Plaza, Albany, New York 12223, (518) 486-2659, email: [email protected] An IRS employer ID no. or social security no. is required from firms or persons to be billed 25 cents per page. Please use tracking number found on last line of notice in requests.
Assessment of Public Comment
An assessment of public comment is not submitted with this notice because the rule is within the definition contained in section 102(2)(a)(ii) of the State Administrative Procedure Act.
(13-M-0376SA1)
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